The key question asked by most contractors during the final months of any year, and the first month of the next year is, “how do I get more work?” Most of us aren't satisfied with what we did this year and we want more next year. So how do I get more work? There are only have so many sources that can produce growth for your business:
- Internet leads
- Local referral sources
- Expand the service coverage area
- Add new services
- National referral sources
Many contractors find that website SEO, lead generating sites, Google AdWords campaigns, pay-per-click, HomeAdvisor, and yellow pages are just plain too expensive and don’t produce the results they pay for. Local marketing is not nearly as fruitful as it has been in the past. Insurance agents are frequently required by superiors to stop referring to local contractors and instead send their claims through channels. Service coverage areas can only get so big. A radius of one hour or so drive time from your office is about all that is really practical. New services are not a bad idea especially if mitigation-only contractors are adding the high revenue and highly profitable rebuild services.
The simple truth is that for most contractors that simplest and best strategic steps they can take to grow their business is to pursue relationship with national referral partners who have a lot of available business to send downstream to dependable contractors who will complete their work.
GROW YOUR RESTORATION BUSINESS THROUGH NATIONAL REFERRAL PARTNERS
The insurance damage repair industry is dominated by preferred contractor programs. Today most insurance carriers have opted to assign their claims management to Third Party Administrators (TPAs) like Contractor Connection. Every large and rapidly growing restoration business I know is heavily involved in TPA programs. You should be too! Today there are 10 National Third Party Administrator Networks who collectively manage the bulk of insurance program work.
When I sold my restoration business nearly 3 years ago there were 7 National TPAs and we were active on 5 of them representing nearly 30 individual insurance carrier preferred contractor programs. This along with other non-insurance sources propelled our rapid growth year after year. Growth is not hard when you have highly skilled organizations like Contractor Connection and other TPAs working hard to send you work so that they themselves can grow and make money. What better and more profitable relationship can you possibly imagine? Every time we were added to a new TPA we got a boost in sales. Every time we were added to another of their client carriers we got a boost in sales. Every time we were added to another internal carrier program we got a boost in sales. When we were added to the USAA program managed by Contractor Connection we were added to the USAA mitigation program and managed repair programs and we got a boost in sales. Soon we were added to the USAA roofing program, then to large loss, then to fire and smoke, and then to Consumer Services. Each time we got a boost in sales. Multiply this affect by the nearly 30 insurance carriers whose preferred vendor programs we were on and you can see how we were able to build a $5 million company in less than 9 years. There is nothing like it. Once you are selected by one TPA you are more likely to be selected by another, and another.
Once activated for one preferred contractor insurance carrier program you are likely to be activated for another and another. Once selected for a carrier program you are likely to be added to another program, and then to another, and another, and another. Get the picture. Once the flow begins, it never stops and almost always continues to increase over time. It really truly is an amazing relationship! No doubt this one example opens your eyes to the enormous opportunity program work provides with a constant flow of work available through these national referral sources. My client contractors are typically added to multiple TPA Networks within the first 120 days of their efforts. Knowing who they are, what services they are interested in, and how to effectively navigate the application process is critical to selection. With a little diligence, persistence and know how, you can become a program contractor too.
Reference: 6 Month Coaching Plan – The Revenue Generator – The Ultimate Revenue Booster for Your Business Sales Growth http://growmyrestorationbusiness.com/plans-pricing-new/